Davos: Citigroup CEO admits London focus will wane after Brexit January 22, 2019 Citigroup has warned that it will do less work in London after Brexit. Speaking at Davos today, chief executive Michael Corbat warned that the firm will move jobs to the EU in preparations for Brexit, adding that “the outcome is that we will be doing less there [London]”. Read more: Citigroup appoints new investment bank [...]
Gatwick drone chaos costs Easyjet £15m but shares rise as profits stay the course January 22, 2019 Drone disruption at Gatwick cost Easyjet £15m, the airline revealed today, as it said that 82,000 passengers were affected by the incident, but shares rose as profits stayed the course. Easyjet was forced to spend £10m in customer welfare costs and lost £5m in revenue, it confirmed in a trading update this morning, as it [...]
Davos: Investec banking chief warns stopping Brexit would ‘corrupt democracy’ January 22, 2019 Stopping Brexit would “corrupt democracy”, the chief of banking giant Investec has warned. Hendrik du Toit, joint chief executive of the UK-listed bank, insisted Britain must leave the EU regardless of what people in the financial sector think about the decision. Read more: At Davos, Huawei calls for speedy resolution to case of detained CFO [...]
Three-quarters of trade could collapse in no-deal Brexit, report warns January 22, 2019 Around three quarters of trade between Dover and Calais could grind to a halt if the UK leaves the EU without a deal, a leaked report has warned. A UK Border Force report leaked to Sky News estimates that between 75 per cent and 87 per cent of cross-Channel freight trade could collapse for up to [...]
Theresa May feels the heat as MPs table plans to alter Brexit process January 22, 2019 Former attorney general and Tory rebel Dominic Grieve has tabled his motion to allow MPs time to debate various Brexit options in the run-up to the UK's exit from the EU. Grieve was originally planning to table a motion that would have allowed 300 MPs from the five parties to be debated and voted on by [...]
Think you know how Britain feels about Brexit? Think again January 22, 2019 Having seen her Brexit proposals rejected in the largest defeat for a sitting government in British parliamentary history, the Prime Minister returned to the House of Commons on Monday with a plan B that looks startling like plan A. Yes, there have been some tweaks around the edges, such as scrapping the fee for EU [...]
Chasing global uncertainties with an active toddler is not easy January 22, 2019 You know you are a “Brexhausted” mother when you spend your day (and sometimes nights) chasing Brexit madness and the rest of the time chasing a super-active toddler. At least my toddler is starting to understand when I say “I think we are done for today, it’s time to go to bed”. While that’s been [...]
Chief executives expect to ramp up hiring in 2019 January 22, 2019 A majority of UK chief executives expect to boost headcount in 2019, a new survey has shown. Sixty one per cent of UK business leaders expect to increase headcount in 2019, up from 54 per cent last year and greater than the worldwide average of 53 per cent. UK chief executives are also optimistic about [...]
Theresa May waives £65 registration fee for EU citizens living in the UK January 21, 2019 EU citizens will no longer be hit by a £65 charge to register to stay in the UK after Brexit, Theresa May has announced in a bid to win support from MPs. Speaking in the Commons, the Prime Minister announced the fee will be waived after lobbying by parliamentarians from across the Commons during talks [...]
Airline stocks enjoy share price bump following positive forecast for 2019 January 21, 2019 Several airline stocks have enjoyed share price bumps today following a positive note on European airlines by Davy Research. Air France-KLM, Norwegian and Thomas Cook were among the airlines that enjoyed spikes in their share price, with the Franco-Dutch carrier enjoying a near 5 per cent rise. Norwegian's share price increased by 3.52 per cent [...]